EURZAR SHORT OPPORTUNITY, ABOUT TO HIT TARGETShort position, check for retest in a lower time-frame, about to reach our target.
EURZAR trade ideas
The rand vs the Euro - Longer term viewNeeded to buy some euros with zar so thought i would pull up a longer term chart to see when i should be buying!
So far so good, predicted yesterdays drop 9 days ago and hit my green box, if at all i will be buying again it should be around those new levels to complete our Z.
EURZAR formed a Cycle High (Weekly)?High probability, cycle high formed 4-weeks into a possible 28 weeks cycle, to form the next cycle low. This cycle can be as low as 16 weeks.
Triangle suggest support around the 200 SMA - 15.75.
Important to keep eye on the political climate in SA. It is not normal, current events can make markets jittery, or is it normal now?
EURZAR ready to reverse?Very similar scenario to the EURNZD trade posted earlier.
After a very strong bull run the pair entered overbought territory and we see a bit of a spinning top what it is usually a sign of weakness. It has a lot of room to run and very little support on its way what makes the R:R on this trade exceptional.
How do I play it?
There are 2 entry points :
- We can wait for that thick black line to be broken as it acted as some weakish support in the past. Less aggressive approach.
- We could enter on that doji 4H candle marked with an arrow and looking at the 1H estructure. More aggressive approach.
It is also interesting to see that the price is now under the 4H 50MA and as long as it remains under it we are good to sell this pair.
Trade safe!
EURZAR BULLS OUT OF FUEL??Using multiple MA formulas to find weaknesses in trends. Slowing them down paints a much better picture for you.
Using
Detrended price oscillator
SMI
Ultimate Oscillator
Chaikin money flow
Slow Stochastic
Slow volume oscillator
Use faster charts with same concent to scalp
If uncertain about 1 indicator alerting of cross, wait for 1,2, or 3 more alert of cross as well. = More coservative entry
